Property Overview
This one-storey home on Roseberry Street presents a compact, no-frills living option in Winnipeg's King Edward neighbourhood. Its key appeal lies in its position as an affordable entry point into the housing market. With 670 square feet of living space, it is notably smaller than most homes in the city, but it sits on a manageable 2,709 sqft lot with a detached garage. The house, built in 1918, retains its original basement and is not renovated. Its assessed value is significantly below the citywide average, reflecting its modest size and condition.
This property would suit a first-time buyer, an investor looking for a straightforward rental, or someone seeking a minimal footprint with lower carrying costs. Its value is functional rather than luxurious, offering the fundamentals of homeownership. A thoughtful perspective is that its smaller size and unrenovated state present a clear, predictable project without the surprises of a partially updated older home. It allows a buyer to build equity gradually, making changes on their own terms and budget.
Frequently Asked Questions
1. Is this a "tiny home"?
While not marketed as such, at 670 sqft it is significantly smaller than the Winnipeg average (1,342 sqft). It fits the practical description of a compact, efficient living space, appealing to those seeking a minimalist lifestyle.
2. What does "basement not renovated" imply?
It means the basement is in its original, likely unfinished or partly finished, state. Buyers should budget for potential updates and anticipate systems (like plumbing or electrical) that may be older. It also means there are no poorly done DIY renovations to undo.
3. How can the assessed value be so low compared to the city average?
The assessed value is based on the property's specific attributes—its small size, age, and condition—relative to similar properties. It reflects a market value for a modest, entry-level asset, not the city's overall soaring market prices.
4. Who might this property not suit?
It may not suit families needing multiple bedrooms, those who desire modern finishes without immediate renovation work, or anyone uncomfortable with the maintenance responsibilities of a 108-year-old home.
5. What is the potential here for an investor?
The low entry cost and consistent assessed value suggest stable, lower-risk rental potential. The unrenovated basement could be legally developed (subject to permits) to add a separate income suite, potentially improving yield on a relatively small initial investment.